RFG tracks consumer usage of various bank products to facilitate a greater understanding among financial institutions with respect to which products are “hot” and which products are “not.” 

Accordingly, the Fall 2009 research asked consumers to describe their household’s primary checking account.  Having tracked similar information since 2002, the most recent study revealed that today, more households consider their primary checking account as Free or Free with Direct Deposit. 

In contrast, households are less likely to describe their primary checking account as one that requires a minimum balance, requires a monthly fee, or charges a fee for teller transactions. 

To order the full report , click here.

About RFG’s national consumer research

Financial institutions receive national consumer research through RFG’s Strategic Planning Study Group (SPSG), a marketing research program consisting of semi-annual consumer surveys on current industry topics derived from RFG’s research process.

Based upon 1,155 survey responses of a randomly drawn sample of members of a nationally representative direct mail panel, the consumer responses used in this study were weighted to reflect the nation’s demographic composition. The study’s confidence interval for any proportion gathered in the survey is in a range of 1.7% to 2.9% at the 95% level of confidence.

For more information about RFG’s national consumer research, visit www.raddon.com/spsg.

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